The Denver Bar Association announced the winners of its 2015 DBA Awards on February 24, 2015. Award recipients will be recognized at the annual DBA Awards Ceremony on July 9, 2015 at the Ralph Carr Justice Center.
The Colorado Limited Liability Company Act was front-and-center in a January 2015 decision from the Colorado Supreme Court. The case, LaFond v. Sweeney, 2015 CO 3 (January 20, 2015) involved the dissolution of a law firm organized as a two-member LLC with no written agreement regarding the treatment of assets and liabilities on dissolution. Richard LaFond brought a contingent fee case into the law firm and performed a significant amount of work on that case before the firm dissolved. He continued his work on the matter after dissolution. His now former partner, Charlotte Sweeney, claimed an interest in the contingent fee.
A creditor obtains a judgment against Hocker for $4.4 million, and seeks to levy and execute upon Hocker’s shares in the Highland Ditch Company. Hocker owns an undivided 50 percent interest in two and three-quarter shares of Highland stock. The Highland shares represent Hocker’s right to use water that runs through a mutually owned ditch, a branch of which leads to a pond on the 35-acre farm that Hocker owns with her husband. Hocker files a claim under the homestead exemption, asserting that the shares, which represent water rights appurtenant to her farm, could not be levied. The court denies Hocker’s claim of exemption, and Hocker appeals.
This week’s first prediction:
The law of commercial transactions will take on a bitcoin dynamic.
On Monday, February 23, 2015, the Colorado State Judicial Branch announced two forthcoming vacancies on the bench of the Fourth Judicial District Court. Hon. Thomas Kennedy will retire and Hon. Barney Iuppa will resign, both effective July 1, 2015.